This Blog is about important things that have to do with buying and selling real estate. There are a few ramblings, too. If you put your email in just below and press submit you can get the latest and greatest information as it happens, Enjoy

Thursday, February 27, 2014

Do you want an amazing house at an affordable price? Look no further. The seller is also willing to help you with your closing costs!

It is located on a very quiet dead-end street--perfect for kids! The detached two-car garage will make that handy person happy! This property is priced at a modest $77,500 or $72 a sq foot. Call to see. One hour notice please.Pink House TeamKeller Williams Realty7304 SW 34thAmarillo, TX 79121http://myamarillohomes.com806-290-1920Want to know the value of your house?

Pink House TeamKeller Williams Realty806-340-7630What is the correlation between assessed value and market value on your Amarillo home?Working with buyers and sellers every day, I often hear that the "appraised value" is such and such. What they are referring to is the value that the Potter/Randall Appraisal District (PRAD) bases the taxes on for each house. What I hear most often is (mostly from other Realtors) is that the property is priced at X amount below PRAD. Does that necessarily make it a good deal? I was curious about how PRAD comes up with their value so I called to find out. Let me say, however, that for me it was a little complicated so don't take what I write here as gospel. If you have a question, please call PRAD yourself.

First, let me explain how an appraiser reaches "market value" when you are selling your house. The appraiser will visit the house in order to see what the condition of the property is. He take pictures, measurements and considers any other things that are pertinent to the house. He has a copy of the contract so he looks for anything in the contract that should be considered. For instance, if the seller is paying any closing costs that would be a consideration. Is the price inflated to cover closing costs? Is it typical for the area that seller pays closing costs? Or maybe the seller is replacing the roof before closing. There are a number of things in contracts that an appraiser looks at. After that, the appraiser looks for other properties that have sold in the area that are similar and he starts comparing. Usually an appraiser will try to find comparisons that have very recently sold. He will also look at current houses that are for sale and houses that are pending. The appraiser will make adjustments for number of bedrooms, bathrooms, or the presence of absence of central heat and air. He looks at the condition of the house and makes other adjustments. After considering at least a minimum of what I have listed above, he will reach a conclusion of what the market value of the property is based on thorough information. Market value=what it will sell for in the open market.Now let's look at how the county decides on a value for tax purposes.

It is impossible for the appraisal district to do individual appraisals on each property in Amarillo each year. Therefore they do what was described as a "mass appraisal" I was told that that each house is valued at market value. "Mass appraisals", however, in my humble opinion are not going to be as accurate as an individual appraisal.Some areas are easier to do mass appraisals on than others. For instance, Hillside Terrace is a neighborhood of similar houses. Some others areas like maybe NE Amarillo will be much harder. They aren't all uniform. Let's look at Ridgecrest for a better example because the houses are similar but not as similar as Hillside Terrace.

Houses are categorized using an A-G rating system. A-- being houses that may be in bad condition, D--good quality homes or G--superior. This was a little vague for me, but it seems like an A rating may be placed on a house that has had one owner for many years and it may be considered that the owner has not updated. On the other hand, if a house has recently changed hands and the MLS or another source shows that the house was upgraded with granite it may be considereda G for the neighborhood. An A rating may be as low as 70% of PRAD's market value and the G may be 120% of PRAD's market value. The challenge is that maybe the A rated house has also updated with granite but the appraisal district may not know it--unless the neighbor tattles. All of the values must be "equal and uniform" says the State:Taxation must be equal and uniform.All property must be valued and taxed equally and uniformly. This applies to similar types of property (for example, all residential homes) and to differing types of property (for example, commercial properties and utility properties). No single property or type of properties should pay more than its fair share of taxes.Therefore, since a neighborhood must be taxed equal and uniform they create an overall ratio for the neighborhood. Thus the mass appraisal. They aren't allowed to use an average (semantics to me) so they have to keep it within a "sales ratio". The overall sales ratio of the entire neighborhood must fall within a 95% - - 105% ratio of their determined "market value".After the sale of every house, the new homeowner is asked to complete a form saying how much they paid for the house. I asked if they paid less than the PRAD value and they said that on the form, if their taxes would go down. No. It will just get thrown in the mix of "sales ratio".

You can appeal the value that is put on your house to try to reduce taxes. I joked that probably they never saw anyone come in to raise the value. He corrected me. Many people come to the appraisal district with evidence of the work they have done to get the assessed value to be higher. Why would someone do that? He informed me that sellers that are about ready to put their house on the market want to show that the PRAD value is more than what they are asking.So going back to the original question, how does PRAD value compare to the Market Value from an appraiser? Well for those that sell a "deal" based on low PRAD, once it goes through the MLS and shows new granite it may move from and A to a G. New increased taxes. Just what I wanted. How about you?Watch out for great deals. You usually get what you pay for.Call me for a free market analysisto put beside PRAD's value to see where you stand!Pamela MadorePink House TeamKeller Williams Realty7304 SW 34thAmarillo, TX Texas, Texas, 79121806-290-1920http://myamarillohomes.com

Monday, February 24, 2014

Pink House Team Keller Williams Realty 806-340-7630 The Pink House Team presents their new listing at 2000 Havenville Dr. in Amarillo, Texas just south of Tradewinds.What a beautiful custom built home in a quiet neighborhood just south of town.
Located in a new subdivision, South Haven, 2000 Havenville is at the end of the street and on a corner lot.

The builder is a detail person and you can see that from viewing the inside. Every detail was well thought and executed in a professional manner. This is not a typical new construction house.Some of the features include, granite in kitchen and bath, stainless steel appliances, 12' tray ceiling in the living area, crown molding, tile showers with overhead shower heads, and tile and carpet floors, sprinkler system, and finished interior garage. Each room is tastefully painted. My personal favorite, however, is the vaulted ceiling in the master closet. You can line up a 100 pair of shoes on the extra shelving! All of this at the very affordable price of $142,000.

You have never seen 1395 sq ft so big! There is not one inch of wasted space in the entire house!!Call now (806-290-1920) for an appointment to go see the inside. You will love it!Pamela MadorePink House TeamKeller Williams Realty7304 SW 34thAmarillo, TX 79121806-290-1920

Saturday, February 22, 2014

Pink House TeamKeller Williams Realty806-340-7630This Pink House Team Amarillo listing is only $35 a square foot. A roomy house on the north side of Amarillo and close to shopping and I-40. It has two very big bedrooms and ample dining are and kitchen.

The real bonuses are the attached two car garage and large corner lot! It has a new roof and an amazing rock entryway. Look at the pictures here. Only $60,000.Pink House TeamKeller Williams Realty7304 SW 34thAmarillo, TX 79121806-290-1920http://myamarillohomes.com

Reduced price on this Pink House Team listing in Amarillo! The owner has reduced the price to $77,500 AND offered to pay some of the buyer's closing costs. It is located in the heart of Sunset/Westlawn at 1013 S. Carolina.

Located on a dead-end street, this charming 2 bedroom one bath home is perfect for a starter family. It has a detached 2 car garage just right for the handyman/handywoman to set up his/her bench. It has a big back yard for barbecues and for kids to play.

It has beautifully finished hardwood floors and a big kitchen. The master bedroom is roomy and very comfortable.

Wednesday, February 19, 2014

Pink House TeamKeller Williams Realty806-340-7630The Pink House Team wants to introduce you to our newest listing at 1212 Russell in Amarillo, Texas.

This home has more than 1700 sq ft. It has 2 bedrooms, 1 bath and an attached 2 car garage. It is located on a corner with a 50 x 125 lot. The siding is permanent and the roof is new. Offered at $57,000.

Monday, February 17, 2014

Pink House TeamKeller Williams Realty806-340-7630We love to write "Another Home Sold By The Pink House Team" because that means we have another happy homeowner. To get your home posted here, list with us today!

Sunday, February 16, 2014

I help a lot of people find their owner finance/investor finance house. What you probably don't know is that more than 50% of the people that contact me about owner financing, I am able to get them financed. The advantage to that is that you have many more houses to choose from. And I am often able to get the seller to pay your closing costs. On an FHA loan the down payment is 3.5%--on $100,000 purchase price that is only $3500!

Do yourself a favor and try to get qualified. I can go down to 580 on credit scores. If you are less than that, we can often increase the scores within 30-60 to make it work.

Visit http://www.rhtucker.comFill out the online application. Please put my name in there as the one who referred you! Let's do it!!!

Friday, February 14, 2014

Pink House TeamKeller Williams Realty806-340-7630How Interest Rates Affect The Value Of Your HomeIs that true? Can interest rates affect the value of your home? Amarillo home values can definitely can be affected by interest rates. Let me show you how.How Much Can I Afford?When a buyer decides to buy a house we normally think that a buyer is looking at the priceof the house. In reality, however, buyers are looking for the cost of the house. In other words, in most cases, the buyer really doesn't care too much about the price, they simply want to know how much it will cost per month. When interest rates are constantly fluctuating, a buyer who is qualified for $200,000 today may not be tomorrow.The Rule Of ThumbBuyers determine the price of a house. Simple. It doesn't matter what I think or you think or how much money you have in it. It only matters what a buyer will pay. Keeping that in mind, the rule of thumb is that for every 1% rise in interest rates buyers qualify for about 10% less. So, for instance, our $200,000 buyer above can now only qualify for $180,000. How does that affect your value?Look at the graph below to see the changes in interest rates in the last 30 years.

While it is true that over the long run house prices continually appreciate, that really doesn't help if you want to sell right now and rates have knocked that buyer that loved your house out of the market. The good news might be that the buyer that did qualify for $225,000 now qualifies for $200,000 and you are back in the game. The difficult part, however, is that the higher price houses have less buyers to start with thus thinning the pool even further.So, do interest rates affect house prices? Look at it from a rate decrease. Suddenly buyers across the board have 10% more buying power. They are excited that then can get a "better" house because now the payment for the $200,000 is the same as the $180,000 was. This is where bidding wars begin. Because now there are more buyers you may be able to get more than the asking price. Something that sellers love. If rates were 18% + we would see a big difference in prices. Fortunately, they are not. But remember as a seller it is important to watch these indicators. You will want to put yourself in the place that will attract the most buyers that can afford your house.For more information, call me today!Pamela MadorePink House TeamKeller Williams Realty7304 SW 34thAmarillo, TX 79121http://myamarillohomes.com806-290-1920

Thursday, February 13, 2014

Pink House TeamKeller Williams Realty806-340-7630If you are a seller in Amarillo and you are frustrated because your house hasn't sold, let me give you a few tips that might help you. Remember this is a joint effort! Be aware that the buyer determines whether or not the house sells. My job as a Realtor is to make sure that your house is everywhere to be found. Most buyers start online looking for a house so every nook and cranny must have your house listed.Be sure that your house is easy to show. Recently, I had a house that the seller was very anxious to sell but an out of town buyer, only in town for one day, wanted to see it and the sellers weren't able to accommodate. They bought a house that day.

Be satisfied that all areas of the house inside and out are available for pictures. If you have a dog in the back yard be sure to move it for pictures. Buyers love to know what the back yard looks like.Be convinced that it is priced right. Remember that the price has nothing to do with how much you paid, how much you have in it, or how much you want to net. It only has to do with what a buyer will pay. If you are overpriced, your house will sit on the market.

Be responsive. As a seller I know that you constantly want feedback from me. Remember, too, that I need feedback from you. I want to know what you are thinking and feeling. Only then can we make joint decisions to get your house sold.Be it known, too, that I never "sell" your house. My job is to get someone to buy it! The best way to do that is exposure. If you type in your address in google and the first 3-4 pages aren't all about you, then I haven't done my job.Be patient. I know this is the hardest one. Remember back to when you bought your house. How many houses did you look at? How long did it take you to make a decision? You are feeling now what those sellers felt then!You want your house to sell? Let's work together to get it done!!!Pamela MadorePink House TeamKeller Williams Realty7403 SW 34thAmarillo, TX 79121806-290-1920http://myamarillohomes.comhttp://blog.myamarillohomes.com/

Wednesday, February 12, 2014

Pink House TeamKeller Williams Realty 806-340-7630 When you go on vacation do you pre-pack the week before or do you pack the night before? The last time I went on vacation I packed the night before and forgot my toothbrush and my Via coffee from Starbucks. For me, two critical things.

Selling your house can have the same elements.
Pre-packing simply means getting ready in advance. The first 7-14 days of your house being on the market are critical. That is when the most buyers will be coming through your house. That first impression will often make or break the sale.Here are some pre-packing tips. Take family photos off the walls and book stands. You want the buyers to picture themselves in their new house.

Less is more. Anything you can live without during the time of the sale, pack up and put in storage. If you are like me I have things in my house I haven't used for years. Maybe a garage sale in advance of putting the house on the market would work. Make sure that personal areas like the bathroom are clutter free. It is easy to leave the shampoo on the edge of the tub but putting it under the cabinet will make a much better impression. Pack away all unused items. If you store things in your garage, rent a storage unit and put everything you can in it. Buyers want to be able to picture their cars in the garage.

Lawn ornaments and gargoyles need to be packed up. Again, buyers want to picture their own things in the yard. If you plan on taking anything like light fixtures or curtains with you, remove them before you put the house on the market and replace them with comparable items. Buyers don't like "take aways" even if it is plainly stated in the listing agreement. So remember that pre-packing is an essential part of preparing your house for sale. If you are buying a new house, take note if the houses that you look at have been pre-packed. You will be able to tell the difference.
Pamela MadorePink House Team Keller Williams Realty 7304 SW 34th Amarillo, TX 79121 http://myamarillohomes.com 806-290-1920

Tuesday, February 11, 2014

Pink House TeamKeller Williams Realty806-340-7630You have moved out of town and had to leave your house vacant while it sells. There are a number of things that you can do to give yourself some peace of mind.

Be sure that you leave the utilities on and keep the payments current. You may have to keep in touch with the utility companies until you are sure they have your new mailing address. Utility companies have been known to make mistakes. You don't want to let it slip through the cracks and have your heat turned off, especially in winter!

Unfortunately, there are thieves in this world. Some people ride around searching for vacant houses. A vacant house with a for sale sign in the yard is especially tempting. Be sure to make it look occupied. Instead of just leaving lights on, put lights in different parts of the house on timers so they are coming on and shutting off in different rooms at different times. Leaving the light on over the sink may be a viable option.

Most police departments will patrol by your house if you ask. Just call and tell them you have a vacant house and ask them to put you on regular patrol. Police cars tend to scare thieves off.

Be sure that all of your windows are locked. Buyers that are not really buyers may come to an open house and leave a window open. Your Realtor should check all windows after any open house.

Overhead garage doors can be vulnerable. Most garage doors have the ability to lock from the inside. If you do this be SURE that your Realtor makes certain that anyone showing the house knows this so no one will try to open it while it is locked.

Ask two neighbors to keep a watch and have them call the police if they see suspicious activity. Ask two in case one is out of town. Ask the same neighbors to take off the door or steps any fliers or phone books or any other thing that someone might leave. Sure sign of vacant house.

Do you have other seller tips? Help us out so we can post on our website. Fill out my form!

Monday, February 10, 2014

Pamela Madore has more than 30 years experience in the real estate and mortgage industry, first in Maine then in Florida and now Amarillo. She has been in Amarillo with Keller Williams Realty for nearly 7 years. Her certifications include:

Certified in Recruit Select, Train, Lead and Motivate

Short Sales and Foreclosure Resource Certification

Keys to Creative Real Estate Financing

Property Management and Cash Flow

US Tax Liens and Deeds

Commercial Real Estate Investing

Licensed Loan Originator

Certified in Mega Agent Listing Skills

BOLD Graduate

Pamela has been married to Tim for 31 years. They have one daughter and two grandchildren.

Pamela is an avid skier. Had some problems with snowboarding, though.Pink House TeamKeller Williams Realty7304 SW 34thAmarillo, TXhttp://myamarillohomes.com806-340-7630

Saturday, February 1, 2014

Pink House TeamKeller Williams Realty806-340-7630KEEP YOUR HOUSE WARM IN COLD WEATHERDuring the cold winter months it is normal behavior to turn the thermostat down when you leave the house in the morning. I am going to tell you why this is a bad idea if you are trying to sell your house in Amarillo during the winter.Picture this (and this is quite normal for Amarillo). It is 40 degrees with a wind chill of factor making it feel like 30. A brave and fearless Realtor (me) is showing houses to "in a hurry" buyers. They have to buy something now.

We drive up in front of your house and it looks nice. By now we are all freezing and can't wait to get inside of a nice warm house. After fumbling with the key and frozen fingers, we go into the house expecting a wave of heat only to find that the thermostat was set to 65. That is not as cold as outside but we are all "in a hurry" to get back in the warm car and move on.The next house looks equally as good and when we go inside we are met with warmth. The thermostat was on 75 and the buyers were so happy to be warm that they took their time to look around. They leisurely went from room to room discussing the merits of the house. Both houses were a fit for the buyers, meaning they had all of their main criteria with one have a bonus of this and the other having a bonus of that. In the end, the buyers felt more comfortable with the house that they had spent a lot of time in and that is the one they ultimately bought.Help sell your Amarillo house in the winter by keeping it warm! And remember, the same holds true for summer.Pamela MadorePink House TeamKeller Williams Realty7304 SW 34thAmarillo, TX 79121806-340-7630http://myamarillohomes.com